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China-Made Tesla Model Y Could Reach 360K Units Annually: Research Report

Benzinga EV Insights
·1 min read

The Tesla Inc (NASDAQ: TSLA) Model Y was released this year, earlier than Tesla projected.

We also recently learned the seven-seater version will start deliveries in December, even though Tesla's website listed 2021 availability. 

Now a new report from Tianfeng Securities is predicting Tesla will lower the price of the Model Y in China when it starts production and deliveries in the country, according to the website Seek Device.

Tianfeng is forecasting a price of 275,000 yuan ($41,000) vs. the current price of $49,990 in the U.S.

Tesla recently reduced the price of the Model 3 in China after introducing a new battery, which led to sales teams being overwhelmed with orders. 

Tianfeng Securities is also predicting that after the start of mass production in China, Model Y monthly sales could reach 30,000 units — and annual sales are expected to reach 360,000 units.

Benzinga's Take: Tesla's Gigafactory Shanghai has been instrumental in the company's explosive growth.

Tesla set a new delivery record in the third quarter of 2020, and a big part of that was due to China deliveries. As Tesla continues building factories in Berlin and Texas, we can expect Tesla's growth to continue to explode. 

Photo courtesy of Tesla.

Latest Ratings for TSLA

Date

Firm

Action

From

To

Oct 2020

Goldman Sachs

Maintains

Neutral

Oct 2020

Citigroup

Maintains

Sell

Oct 2020

New Street

Upgrades

Neutral

Buy

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